Sumitomo Mitsui DS Asset Management Company Ltd Grows Stake in Fiserv, Inc. (NYSE:FI)

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Fiserv, Inc. (NYSE:FI - Free Report) by 2.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 117,488 shares of the business services provider's stock after purchasing an additional 2,513 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Fiserv were worth $25,945,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in FI. Clear Creek Financial Management LLC bought a new stake in shares of Fiserv during the 1st quarter valued at about $1,575,000. Vontobel Holding Ltd. raised its stake in Fiserv by 0.3% in the first quarter. Vontobel Holding Ltd. now owns 39,238 shares of the business services provider's stock valued at $8,665,000 after purchasing an additional 111 shares in the last quarter. Mather Group LLC. lifted its position in Fiserv by 11.9% during the first quarter. Mather Group LLC. now owns 2,052 shares of the business services provider's stock valued at $453,000 after purchasing an additional 218 shares during the last quarter. Alta Advisers Ltd grew its stake in Fiserv by 58.7% in the 1st quarter. Alta Advisers Ltd now owns 2,973 shares of the business services provider's stock worth $657,000 after buying an additional 1,100 shares in the last quarter. Finally, Koshinski Asset Management Inc. grew its stake in Fiserv by 42.3% in the 1st quarter. Koshinski Asset Management Inc. now owns 9,624 shares of the business services provider's stock worth $2,125,000 after buying an additional 2,859 shares in the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Fiserv news, EVP Andrew Gelb sold 5,652 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $160.00, for a total value of $904,320.00. Following the completion of the transaction, the executive vice president owned 25,385 shares in the company, valued at approximately $4,061,600. This represents a 18.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Adam L. Rosman sold 2,512 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total value of $403,628.16. Following the transaction, the insider directly owned 53,385 shares of the company's stock, valued at $8,577,901.80. This represents a 4.49% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.74% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on FI. BMO Capital Markets lowered their price objective on shares of Fiserv from $254.00 to $232.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Robert W. Baird lowered their price target on Fiserv from $250.00 to $225.00 and set an "outperform" rating on the stock in a research report on Wednesday, June 18th. Citigroup dropped their price target on Fiserv from $267.00 to $240.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Royal Bank Of Canada set a $237.00 price objective on Fiserv in a research report on Friday, April 25th. Finally, UBS Group dropped their target price on Fiserv from $255.00 to $225.00 and set a "buy" rating for the company in a research report on Wednesday, May 28th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $221.23.

Fiserv Trading Up 1.8%

FI stock traded up $3.10 on Friday, reaching $175.55. The company's stock had a trading volume of 2,211,394 shares, compared to its average volume of 3,352,892. The firm has a market cap of $97.33 billion, a PE ratio of 31.02, a PEG ratio of 1.07 and a beta of 0.91. The business has a fifty day simple moving average of $170.87 and a two-hundred day simple moving average of $199.68. Fiserv, Inc. has a 12-month low of $146.46 and a 12-month high of $238.59. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.10 and a current ratio of 1.10.

Fiserv (NYSE:FI - Get Free Report) last posted its earnings results on Thursday, April 24th. The business services provider reported $2.14 EPS for the quarter, topping the consensus estimate of $2.08 by $0.06. Fiserv had a net margin of 15.68% and a return on equity of 18.74%. The firm had revenue of $4.79 billion during the quarter, compared to analysts' expectations of $4.86 billion. During the same period last year, the company posted $1.88 EPS. The company's quarterly revenue was up 5.1% compared to the same quarter last year. As a group, research analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current year.

About Fiserv

Fiserv, Inc, together with its subsidiaries, provides payments and financial services technology services in the United States, Europe, the Middle East and Africa, Latin America, the Asia-Pacific, and internationally. It operates through Merchant Acceptance, Financial Technology, and Payments and Network segments.